Consumer Buying Behavior In The Run up to Black Friday and Christmas
Posted: November 2016
As the world becomes more connected through technology, online shopping has become an essential part of daily life for many people throughout the United Kingdom.
With Black Friday now one of the largest and most popular shopping days of the year, shoppers are hoping to get their hands on the best discounts with deals both online and in-store.
In recent years online marketplaces such as Amazon and Ebay have seen a significant increase on their sales during Black Friday, with Amazon selling 64 items per second. In 2014 the United Kingdom spent £800 million on Black Friday alone, which was followed by weak sales growth figures in the December that followed. This added to the scenes of chaos in some stores where shoppers fought over cut price goods has lead to a number of retailers pulling out of a one day sales event and instead spreading their discounts and sales across the Christmas period.
The convenience of online shopping inevitably means shoppers can place their orders online in the comfort of their living rooms, avoiding in-store crowds and queues during Black Friday and the festive period. Whilst many shoppers will simultaneously browse a number of retailers to find the best price on a particular product, Hunt Hot Deals (http://www.hunthotdeals.com) a deal sharing platform for the public will enable users to find the best value for money products under one roof. Hunt Hot Deals aims to allow customers to make a more informed purchasing decision by discussing deals with an online community that may have previously purchased the product or service without the influence of brands and retailers.
Research conducted by Hunt Hot Deals, states more than 50% of consumer buying decision is influenced by reviews and recommendations posted by other online shoppers. The advantage of using a crowd sourced deal website to discuss a deal will enable users to share their own views, opinions and experiences with other users who are looking to purchase, or have purchased, the same product or service in question.
With Christmas now fast approaching consumers are hoping to purchase both stocking fillers and larger christmas gifts at a discounted price. Hunt Hot Deals not only aims to help shoppers save money but hopes this will act as a tool to find the perfect gift idea this christmas.